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Nov 29, 2012
11/12
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wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the dollar bill be going the way of the doo-doo. a congressional panel is once again calling for the u.s. to stop printing singles and switch entirely to dollar coins. the nonpartisan panel believes it could save taxpayers money. it's more expensive to produce coins but they last about six times longer than paper bills. and you'll need some extra coins to buy starbucks latest. the coffee king is selling a new brew that will set you back $7 for a grande cup. it's made from a rare been grown in costa rica. if you want to brew a cup at home, a bag of th
wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the...
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Dec 5, 2012
12/12
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so far - no een >>> tensions over tax hikes and spending cuts have left the "fiscal cliff" talks all but frozen. so far no face-to-face meetings have been scheduled between the democrats and republicans. cbs reporter danielle nottingham with the president's push now to sell his plan to american businesses. >> reporter: president obama asked business leaders this morning to support his plan to prevent a fiscal crisis. >> let's allow higher rights to go up for the top 2%, that includes all of you, yes, but not in any way that's going to affect your spending, your lifestyles. >> reporter: if no deal is reached between democrats and republicans before the end of the year, taxes will go up for everyone and automatic spending cuts will kick in. the president wants bush-era tax breaks to expire for households making $250,000 or more. republicans are adamantly opposed to that. >> closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates. >> reporter: republicans are also pressing their case with the public. house gop leaders invited smal
so far - no een >>> tensions over tax hikes and spending cuts have left the "fiscal cliff" talks all but frozen. so far no face-to-face meetings have been scheduled between the democrats and republicans. cbs reporter danielle nottingham with the president's push now to sell his plan to american businesses. >> reporter: president obama asked business leaders this morning to support his plan to prevent a fiscal crisis. >> let's allow higher rights to go up for the...
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Dec 4, 2012
12/12
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cliff" talks. market up, nasdaq down, s&p up by 1. and apple shares are down by 1.5%. back to you. >> thank you. >>> >>> smartphones stocking stuffers and tablets under the tree. >> there's probably some kind of gadget on your holiday shopping list this year. and with more on that, cnet editor-at-large brian cooley is live in san francisco with tips to choosing the perfect gift. i was at best buy yesterday and it was sensory overload. you walk in. where do you start? >> reporter: we talked about tablets and things by themselves over the last few months. here i have them all in one place. i have tablets, ereaders and smartphones. let's put them into perspective. a lot of people are mystified where to start. i want to refresh them on the small tablets. the ipad mini 330 bucks, 8." check the size. it depends to be a big handful for some people who are unable to hold it with one hand comfortably. in that case look at a 7" tablet this google nexus 7 is one of those more handable in one hand. it's $200,
cliff" talks. market up, nasdaq down, s&p up by 1. and apple shares are down by 1.5%. back to you. >> thank you. >>> >>> smartphones stocking stuffers and tablets under the tree. >> there's probably some kind of gadget on your holiday shopping list this year. and with more on that, cnet editor-at-large brian cooley is live in san francisco with tips to choosing the perfect gift. i was at best buy yesterday and it was sensory overload. you walk in. where do...
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Nov 30, 2012
11/12
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you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean problems for everyone globally and no one would want that. i'm sure that you'll be able to find the right solution by the end of december. >> let us hope. mr. michalos, thank you very much. sue? >>> thank you, ty. two big winners in that $587 million record powerball lottery. but how much do you really need to earn to make you happy? the answer may surprise you. >>> and before you fill up your tank with gas, listen up. aaa is warning regulators to stop sales of a certain type of fuel at the pump because it could damage your car and void your car
you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean...
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Nov 29, 2012
11/12
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that formerly sacred and untouchable deduction is on the table for fiscal cliff talks. that costs the government $100 billion a year. you know they're looking at every rock for revenue. it would take buyers away from the house market and it could be devastating to the economy. we have lindsey piegza and dan mitchell, from the cato institute. welcome to you both. lindsey, let me start with you. we shouldn't be surprised everything is on the table here, right? >> sure. but this is a big potential problem. it would no doubt cause prices on homes to fall? liz: to rise? >> i'm sorry. liz: if you took the mortgage deduction it would cause prices to rise. >> we would see prices fall because the demand for homes would teeter. this is big decision whether deciding to rent or purchase. you remove that incentive people will drop out of the marketplace. all of sudden a lot of potential homebuyers would-be homebuyers drop out of the marketplace and cause decline in prices up to 10%. this could really undermine any momentum we've seen in the housing market as of late. liz: that is in
that formerly sacred and untouchable deduction is on the table for fiscal cliff talks. that costs the government $100 billion a year. you know they're looking at every rock for revenue. it would take buyers away from the house market and it could be devastating to the economy. we have lindsey piegza and dan mitchell, from the cato institute. welcome to you both. lindsey, let me start with you. we shouldn't be surprised everything is on the table here, right? >> sure. but this is a big...
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Dec 7, 2012
12/12
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a new request from speaker boehner that could actually bring both sides together on the fiscal cliff. >> good, lord, is that possible? also, president morsi sends in tanks to keep the peace as violent protests rage in cairo. we'll have a live report from the region. >> i'll tell you what, it is a mess in egypt, the parties starting to fight each other, meet the new pharaoh, same as the old pharaoh, unbelievable. >> we have full coverage on that coming up, but first, let's get the news live at 5:30 a.m. at 30 rock in new york city. >>> the effort to reach a deal on the fiscal cliff is now a two-man operation. president obama and speaker boehner. thank you. nobody else will be in the room. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the president took his mess dwrooj the public, visiting a local virginia family as a part of
a new request from speaker boehner that could actually bring both sides together on the fiscal cliff. >> good, lord, is that possible? also, president morsi sends in tanks to keep the peace as violent protests rage in cairo. we'll have a live report from the region. >> i'll tell you what, it is a mess in egypt, the parties starting to fight each other, meet the new pharaoh, same as the old pharaoh, unbelievable. >> we have full coverage on that coming up, but first, let's get...
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Nov 29, 2012
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it's expected they will talk about the fiscal cliff. there is also a lot of growing speculation there may be a role for romney in the obama administration. >> dozens of new york public schools victimized by looters in the aftermath of super storm sandy. the city reports 30 schools targeted including one in the rockaways and queens where nearly a hundred ipads and i macs were stolen. >> terrible. >> the looting losses rbt covered by insurance. >> clothes as eccentric as her music. yoko ono with a new line from a sketch she drew for her and john lennon's wedding. they were designed to celebrate john lennon's hot bod. tank tops with nipple cutouts, buttless pants which we are not going to show you. really. interesting. >> two words i thought you would never say. buttless pants. >>> president obama has dispatched one of his top money men to cut a deal with lawmakers. we are talking about that coming u. yep. the longer you stay with us, the more you save. and when you switch from another company to us, we even reward you for the time you spe
it's expected they will talk about the fiscal cliff. there is also a lot of growing speculation there may be a role for romney in the obama administration. >> dozens of new york public schools victimized by looters in the aftermath of super storm sandy. the city reports 30 schools targeted including one in the rockaways and queens where nearly a hundred ipads and i macs were stolen. >> terrible. >> the looting losses rbt covered by insurance. >> clothes as eccentric as...
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Dec 4, 2012
12/12
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fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington insiders tackle fiscal cliff policy solutions. the group will hold a roundtable discussion today on the importance of reform to address the nation's debt and deficit spending this event takes place this morning around 8:30 a.m. eastern time. go to our website for all our coverage of the fiscal cliff talks. we have a web site set up so you can follow along on our special page for these fiscal cliff talks. back to your phone calls. good morning, doris. caller: good morning. the plan that the republicans offered, this is just the romney-ryan plan tha
fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington...
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Dec 3, 2012
12/12
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stock market focused on "fiscal cliff" talks as always, nothing new to report there except the stalemate over the weekend. and that will continue to drive the market going forward. manufacturing also a key today. we'll hear from the institute for slide management in a few minutes. an earlier report coming from markets purchasing managers index was positive and that was key after getting positive manufacturing reports out of china and europe with the market going in the right direction this morning. let's take a look at the numbers. the dow is up by 34 points. nasdaq gaining 12. s&p moving higher by 4 points. back to you guys. >> we'll take it. jason brooks with kcbs and cbsmoneywatch.com, thank you. >>> well, a new study says that when you got to go, social media apparently goes with you. [ laughter ] >> apparently so. >> people are tweeting on the toilet. according to some new data, nearly one-third of social media users ages 18 to 24 make social connections while in the bathroom. and the same goes for 28% of those 25 to 34 and 15% of 35 to 44-year-olds. both sexes are equally likely to
stock market focused on "fiscal cliff" talks as always, nothing new to report there except the stalemate over the weekend. and that will continue to drive the market going forward. manufacturing also a key today. we'll hear from the institute for slide management in a few minutes. an earlier report coming from markets purchasing managers index was positive and that was key after getting positive manufacturing reports out of china and europe with the market going in the right direction...
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Dec 1, 2012
12/12
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there is new intrigue in the fight over the fiscal cliff talks today. both sides have messages out this morning that seem to echo the same old position. this on the heels of president obama holding a campaign-style event in suburban philadelphia to sell his solution. he said if congress does not extend the bush tax cuts for the middle class, everyone's taxes will go up january 1st. >> i'm assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> meanwhile house speaker john boehner says the latest proposal from the white house would cripple the economy. the plan calls for a boost in revenue by $1.6 trillion over the next decade. >> they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean it's, it's -- not a serious proposal. so right now we're almost nowhere. >> >> mike viqueira joins us live from the white house. where is almost nowhere? >> it's inside the beltway and it's business as usual. it's also december 1st, alex, and
there is new intrigue in the fight over the fiscal cliff talks today. both sides have messages out this morning that seem to echo the same old position. this on the heels of president obama holding a campaign-style event in suburban philadelphia to sell his solution. he said if congress does not extend the bush tax cuts for the middle class, everyone's taxes will go up january 1st. >> i'm assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for...
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Nov 30, 2012
11/12
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fiscal cliff talks going nowhere. the president hits the road today selling a plan that includes $1.6 trillion in tax hikes and $50 billion in stimulus spending. you can imagine what republicans thought about that. they are balking at the very least. house speaker john boehner telling reporters the president needs to, quote, get serious on spending cuts. out of nowhere the earth collapsed. a giant sinkhole has developed near dover, ohio, south of cleveland. local residents cannot believe their eyes by how big this thing is. it happened wednesday afternoon. taking part of a two-lane highway down with it. fortunately no one's been injured. >>> wow. exciting discovery on the planet mercury. ice. na nasa's messenger probe discovering frozen water. it's mostly found in deep craters that are always in the shadows. scientists believe the water almost certainly came from impacting comets or asteroids. >>> 30 years ago today, back in 1982, michael jackson released "thriller" an album that changed the music business and cemente
fiscal cliff talks going nowhere. the president hits the road today selling a plan that includes $1.6 trillion in tax hikes and $50 billion in stimulus spending. you can imagine what republicans thought about that. they are balking at the very least. house speaker john boehner telling reporters the president needs to, quote, get serious on spending cuts. out of nowhere the earth collapsed. a giant sinkhole has developed near dover, ohio, south of cleveland. local residents cannot believe their...
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Dec 5, 2012
12/12
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cliff talks. they were still public today. here's where the president started speaking to the business round table and where we learned also that those 40 republicans part of this bipartisan group that would be open to new ideas on the fiscal cliff talks. of the dow, the best performers and worst performers today, the full-ti financials higher led by bank of america. nasdaq, we need to highlight this, was lower, down 20 points today. why? because of apple. apple had one of its worst days. we highlighted this earlier. something very archean called the death cross, the 50-day moving average crossed below the 200-day moving average. what does that mean? just means it could be going lower from here. down 6% on apple today. the yield of the ten-year went lower. as they were buying stocks, they were also buying treasuries today. we were below 1.58 for a time on the ten-year note. finally, watch the vix. the fear indicator continues to move lower today. we've not been above 20. sort of the yellow flag te
cliff talks. they were still public today. here's where the president started speaking to the business round table and where we learned also that those 40 republicans part of this bipartisan group that would be open to new ideas on the fiscal cliff talks. of the dow, the best performers and worst performers today, the full-ti financials higher led by bank of america. nasdaq, we need to highlight this, was lower, down 20 points today. why? because of apple. apple had one of its worst days. we...
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Dec 7, 2012
12/12
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a comment from this but talking about the fiscal cliff issue. -- a comment from facebook talking about the fiscal cliff issue. i want to show you a bit this morning of president obama in an interview with the bloomberg tv on tuesday talking about where he is in the debate. [video clip] >> i did not expect republicans to agree to any plan where they are betting that the entitlement reform will happen. we will have to have specific downpayments now recognizing we will have to continue to work to see if we can come up with better ideas to reduce health- care costs over the long term. that is the framework we are operating on. within that framework, i am happy to be flexible. i recognize i will not get 100%. i will not agree to a plan a in which we have some revenue that is vague and potentially comes out of the pockets of middle- class families in exchange for some very specific entitlement cuts that would affect seniors or other folks who are vulnerable. host: president obama with the bloomberg tv. next up, sarah on the republican line. caller: i think president obama is blackmailing the
a comment from this but talking about the fiscal cliff issue. -- a comment from facebook talking about the fiscal cliff issue. i want to show you a bit this morning of president obama in an interview with the bloomberg tv on tuesday talking about where he is in the debate. [video clip] >> i did not expect republicans to agree to any plan where they are betting that the entitlement reform will happen. we will have to have specific downpayments now recognizing we will have to continue to...
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Nov 29, 2012
11/12
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so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being started around the unchan
so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the...
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Nov 29, 2012
11/12
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cliff talks. do you think anyone is serious about that? >> well, there needs to be. medicare is the largest growth in expenditure in the federal budget. if we don't reform the way that we pay of medicare it's going to be one of the things that breaks the bank and makes us unable to meet our obligations, so we absolutely have to reform it. the legislation that i wrote back in 2010 that we passed a bipartisan support and signed by the president went after something that everything to everybody is against. gerri: let's get to that in the second. i just want to spend one more second of this idea. the senator from illinois saying on tv that he would like to see 400 billion entitlement cuts, the vast majority of the savings, all of it coming from medicare. is that the right amount? more, less? >> its plan to have to be more overtime. at least the democrats are talking about something. the fastest-growing part of the budget. 85 percent of the federal budget is medicare, medicaid, social security defense
cliff talks. do you think anyone is serious about that? >> well, there needs to be. medicare is the largest growth in expenditure in the federal budget. if we don't reform the way that we pay of medicare it's going to be one of the things that breaks the bank and makes us unable to meet our obligations, so we absolutely have to reform it. the legislation that i wrote back in 2010 that we passed a bipartisan support and signed by the president went after something that everything to...
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Nov 30, 2012
11/12
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healthcare has not so far been major issue in the fiscal cliff talks. it may. but chief national correspondent jim angle tells us tonight that president obama won re-election and obamacare kicks in, the economy is about to feel the effects. >> starting january 1, the obama administration will raise taxes far more than just eliminating the bush tax cuts for the top brackets. the new healthcare law will raise taxes of its own. additional $318 billion over ten years. including a new 3.8% tax on investment income and reduced deductions for those of all incomes. >> this is not an incon quincable thing. you are -- incon consequencial thing. >> those affected most will the small businesses many of which pay taxes at the individual rate and get a double whammy with the simultaneous end of the bush tax cut and tax increases under obamacare. almost 60% increase in tax on investment. >> entrepreneurs with small businesses, certain number of workers now they will be facing a four or five, 10% point increase in the tax liabilities. that means they will have income to invest
healthcare has not so far been major issue in the fiscal cliff talks. it may. but chief national correspondent jim angle tells us tonight that president obama won re-election and obamacare kicks in, the economy is about to feel the effects. >> starting january 1, the obama administration will raise taxes far more than just eliminating the bush tax cuts for the top brackets. the new healthcare law will raise taxes of its own. additional $318 billion over ten years. including a new 3.8% tax...
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next, how cherry's could be the latest victim in the fiscal cliff talks. the president of the united way joins me next. gerri: coming up, the war over charitable deductions. will they survive the fiscal cliff? is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent washington post op-ed. overwhelmingly the charitable deduction benefits the wealthy. here to discuss, president of independent sector and stacey stewart, president of the united weight both of whom met at the white house with the president. white house officials pleading there case. i can't imagine having to better guess for this segment. i want to start with this idea because it kind of blew me away when i saw. a major beneficiary for the charitable deddction, the %-i thought what about that charities and all the people who do -- to rely on them for there good work. let's star
next, how cherry's could be the latest victim in the fiscal cliff talks. the president of the united way joins me next. gerri: coming up, the war over charitable deductions. will they survive the fiscal cliff? is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent...
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Nov 29, 2012
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should entitlement reform be part of fiscal cliff talks? log on to gerriwillis.com, vote on the right hand side of the screen, and we'll share the results. departments paint grover as the villain for why there's no deal. does he deserve the blame? american enterprise institute and political science, norm, i understand that you blame grover front and center. he's the man carrying a pitch fork tonight. >> well, i blame grover, among others, for a lot of the tribalism we've had in the last few years, but it's also the case. if you look at the simpson-bowles report, the rivlin-dmin economy report, the gang of six and crapo and johanns, all say we need a deal that includes $4 trillion in debt reduction over ten years, and about a third of it coming from renues. you got revenues at 15% or just over that of gdp, and spending at 24%, and you got to bring the spending down, but you got to bring revenues up. frankly, we're not going to have a deal. gerri: it's the object of debate, debated every night here. >> yeah. gerri: i was looking at your bio,
should entitlement reform be part of fiscal cliff talks? log on to gerriwillis.com, vote on the right hand side of the screen, and we'll share the results. departments paint grover as the villain for why there's no deal. does he deserve the blame? american enterprise institute and political science, norm, i understand that you blame grover front and center. he's the man carrying a pitch fork tonight. >> well, i blame grover, among others, for a lot of the tribalism we've had in the last...
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Dec 7, 2012
12/12
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how the report could impact the fiscal cliff talks. >> but the pedal to the metal a crash that you have to see coming up at 6:00. like a lot of things, trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum, so that when you find the job you want you'll be a perfect fit. let's get to work.
how the report could impact the fiscal cliff talks. >> but the pedal to the metal a crash that you have to see coming up at 6:00. like a lot of things, trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum, so that when you...
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Nov 29, 2012
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we are talking about so-called fiscal cliff issues. today we are looking at the payroll tax cut issue. this will be coming up in just a moment with kim dixon of reuters. here is an update from c-span radio. >> tim geithner and rob neighbors are meeting at the capitol with how to avoid tax increases and spending cuts. stock futures are up on the expectation that progress will be made towards reaching a fiscal agreement. dow features are up over 60 points. lord justice levenson is about to release his report into a phone hacking. the investigation lasted 12 months. the report will make recommendations on future press regulations and is expected to criticize politicians and police. david cameron will be making a statement in response to the report. c-span is covering these events. jay rockefeller is weighing in on this investigation saying that he hoped the report would contain to clear the air and hold the media organizations involved accountable for their deplorable conduct. "i understand the main goal is to make policy recommendations.
we are talking about so-called fiscal cliff issues. today we are looking at the payroll tax cut issue. this will be coming up in just a moment with kim dixon of reuters. here is an update from c-span radio. >> tim geithner and rob neighbors are meeting at the capitol with how to avoid tax increases and spending cuts. stock futures are up on the expectation that progress will be made towards reaching a fiscal agreement. dow features are up over 60 points. lord justice levenson is about to...
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Nov 29, 2012
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john boehner saying he has seen no substantive progress on the fiscal cliff talks in the last couple weeks. what compromises need to be made? sheila bair, being a former fdic chair, telling us 4 ways wall street can help out and it is not all good news for investors. liz: did you see the cover of the wall street journal? fed stimulus like gillian 2013. we talked about this the second broke yesterday halfway through the 3:00 p.m. show. the man who wrote the article, wall street journal's chief economic correspondent and chief head head to lend us live. dave: before that is of we will tell you what drove the market with the data download. stocks extending yesterday's gains finishing a volatile session higher with the dow, s&p and nasdaq trading above the 200 day moving average for the first time in three weeks. telecom and health care were the top performing sectors. fewer americans filing first-time applications for unemployment benefits as hurricane sandy had the labor market and continues to subside a bit. weekly jobless claims fell by 20,000, seasonally adjusted 393,000. prior week
john boehner saying he has seen no substantive progress on the fiscal cliff talks in the last couple weeks. what compromises need to be made? sheila bair, being a former fdic chair, telling us 4 ways wall street can help out and it is not all good news for investors. liz: did you see the cover of the wall street journal? fed stimulus like gillian 2013. we talked about this the second broke yesterday halfway through the 3:00 p.m. show. the man who wrote the article, wall street journal's chief...
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Dec 7, 2012
12/12
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they're now blaming each other for stalling talks that could send us off a fiscal cliff. in a surprise visit to a falls church family, the president emphasized he will refuse to sign a bill that does not raise taxes on the wealthy but republicans say that's a deal breaker. his stance they say proves the president is not interested in striking a balanced deal, simp in spending more and raising the debt ceiling. but the president says his main concern is certainly the middle- class families of america. he does not want to burden them with the potential $2,000 a year hike in taxes. meanwhile, republican senator jim demint of south carolina among all -- in the midst of all the fiscal cliff talks and the pressure that's mounting here on capitol hill, well, the senator resigned the senate yesterday. he said he's going to head a conservative think tank claiming he can do more there than he can do here in congress. we'll have another report in a half-hour. back to you. >> delia goncalves with that june date from capitol hill. >>> local lawmakers are talking to 9news about the fis
they're now blaming each other for stalling talks that could send us off a fiscal cliff. in a surprise visit to a falls church family, the president emphasized he will refuse to sign a bill that does not raise taxes on the wealthy but republicans say that's a deal breaker. his stance they say proves the president is not interested in striking a balanced deal, simp in spending more and raising the debt ceiling. but the president says his main concern is certainly the middle- class families of...
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cliff talks. in two huge interviews on "fox news sunday" today. chris wallace sitting down for exclusive interview with republican house speaker john boehner. he also got the white house position from treasury secretary tim geithner. >> i would say we're nowhere, period. we're nowhere. we put a serious offer on the table to put the re-knews up there to get the question resolved and the white house responded with virtually nothing. they actually asked for more revenue than they have had for the entire time. >> you heard them for the first time in two decades, acknowledge they are willing to have revenues go up as the balance plan. that is to good first step but they have to tell us what they want to do on rates and re-knews. that is hard for republicans and we understand that. but there is no way without that. they have to tell us on the spending time what they want to do go beyond and what makes sense to them. >> jamie: joining me now the anchor of "fox news sunday," chris wallace. good morning. >
cliff talks. in two huge interviews on "fox news sunday" today. chris wallace sitting down for exclusive interview with republican house speaker john boehner. he also got the white house position from treasury secretary tim geithner. >> i would say we're nowhere, period. we're nowhere. we put a serious offer on the table to put the re-knews up there to get the question resolved and the white house responded with virtually nothing. they actually asked for more revenue than they...
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darren gersh, nbr, washington. >> susie: investors will beor mn those fiscal cliff talks, and they will also be studying tomorrow's importa")jé:0@6cj& but josh feinman says the november numbers won't give an accurate picture of the labor market. he's chief economist at d.b. advisors. >> reporter: hi, josh, so you're talking about distortions in that report. tell us more. >> yes, hi, susie. i think that the hurricane sandy may distort the numbers. we've seen it in some of the other high frequency data in the last couple of weeks. keep in mind tomorrow's labor market report will report on a snapshot of the labor market taken in the middle of last month. and that's when the hurricane and its aftermath were having their effects. >> so the consensus numbers from a survey of economists, they're expecting american businesses added 110,000 jobs it to their payroll. the unemployment rate staying around 7.9%. does that sit right with you. is that what you are seeing? >> probably somewhere around that maybe a little less. one of the problems is it is hard to gauge exactly what the impact of the s
darren gersh, nbr, washington. >> susie: investors will beor mn those fiscal cliff talks, and they will also be studying tomorrow's importa")jé:0@6cj& but josh feinman says the november numbers won't give an accurate picture of the labor market. he's chief economist at d.b. advisors. >> reporter: hi, josh, so you're talking about distortions in that report. tell us more. >> yes, hi, susie. i think that the hurricane sandy may distort the numbers. we've seen it in...
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." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. >> reporter: t psidents oposg to raise taxesy $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want... they want
." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone...
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cliff discussions by folding the debt ceiling into fiscal cliff talks. take a listen. >> obama: congress, in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> jennifer: fortunately for us "newsweek" "daily beast" special correspondent michael tomasky is always up for playing political games himself. he's joining us from washington d.c. thanks for coming back inside "the war room." >> it is always my pleasure, governor. >> jennifer: always a pleasure to have you. so let me talk about this debt ceiling issue. because really, as we look at it really, the only leverage that republicans have on the fiscal cliff talks they proceed to be with the debt limit right? so today the treasury department ups the ante by endorsing republican senator mitch mcconnell's summer 2011 provision which, you know, he suggested and it effectively lets the president rai
cliff discussions by folding the debt ceiling into fiscal cliff talks. take a listen. >> obama: congress, in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> jennifer: fortunately for us "newsweek" "daily beast" special correspondent michael tomasky...
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so it will be good for consumers. >> tom: we've been talking about the fiscal cliff but i think there is the holiday cliff which is that game of chicken between stores are they going have to discount closer to the holidays or are consumers going to spend the money that the stores are asking for right now. clearly another indication that stores perhaps maybe getting nervous now. sp s >> susie: speak of green there was green on wall street today. >> tom: some buying on wall street. let's look at our market focus. better than expected data on first-time unemployment claims led to a choppy start for the s&p 500. after apple went positive in the trne hour, sote did the index. as tech stocks turned solidly higher, so did the market, finishing up a third of a percent. trading volume was moderate at 616 million shares on the big board; just over 1.7 billion on the nasdaq. the technology sector led the way, up eight tenths of a percent. the consumer discretionary sector added six tenths of a percent. the big tech names in the dow industrials weren't left out. t intel had the biggest percentage
so it will be good for consumers. >> tom: we've been talking about the fiscal cliff but i think there is the holiday cliff which is that game of chicken between stores are they going have to discount closer to the holidays or are consumers going to spend the money that the stores are asking for right now. clearly another indication that stores perhaps maybe getting nervous now. sp s >> susie: speak of green there was green on wall street today. >> tom: some buying on wall...
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. >>> secretary geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is closed. the entrance is blocked by protesters as clashes erupt nearby. >> zebra and s hechlt tland pony ran wild through the streets of new york city. they apparently escaped from a petting zoo. >>> nypd says actress lindsay lohan has been raefed and charged with assault. >> three, two, one. >> only nbc would make a television event out of plugging something in. >> all that -- >> oh, humphries and rondo get into it. officials trying to get control here. >> don't tell me what i think. when i said i didn't have a problem, i don't have a problem. got it? >> and all that matters. >> president obama plans to play host to his old political rival, mitt
. >>> secretary geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is...
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and john boehner both talking fiscal cliff. are they talking to each other? is anyone in washington talking to each other? our panel is here to talk about that next. >> one of our favorite videos of the year. back of the police car. he's back. you have to see what he has done now. stay tuned. ♪ ♪ ♪ [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experience. crest pro-health for life. so jill can keep living the good life. crest. life opens up when you do. now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice ca
and john boehner both talking fiscal cliff. are they talking to each other? is anyone in washington talking to each other? our panel is here to talk about that next. >> one of our favorite videos of the year. back of the police car. he's back. you have to see what he has done now. stay tuned. ♪ ♪ ♪ [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people...
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and john boehner both talking fiscal cliff. are they talking to each other? is anyone in washington talking to each other? our panel is here to talk about that next. >> one of our favorite videos of the year. back of the police car. he's back. you have to see what he has done now. stay tuned. ♪ ♪ those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed back
and john boehner both talking fiscal cliff. are they talking to each other? is anyone in washington talking to each other? our panel is here to talk about that next. >> one of our favorite videos of the year. back of the police car. he's back. you have to see what he has done now. stay tuned. ♪ ♪ those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime...
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. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was worry negotiations may actually fail. >> i think we're going over the cliff. it's clear to me they made a political calculation. before president obama and his team are demanding that they allow bush era tax cuts for the wealthiest 2% of americans expire. >> there's no way we can govern this country with those low rates in place for future generations. those rates have to go up. >> reporter: but republicans have drawn a line in the sand in raising tax rates. instead, signaling they're open to raising revenue by limiting the tax code. it's a major sticking point. holding up a deal. >> right now, i'd say we're nowhere. >> reporter: president obama is looking for $1.6 trillion in new tax revenue over ten years. speaker boehner is offering half of that. there's $600 billion. the speaker says that's not enough. although he hasn't outlined what he thinks should be cut. if they can't avoid th
. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was worry negotiations may actually fail. >> i think we're going over the cliff. it's clear to me they made a political calculation. before president obama and his team are demanding that they allow bush era tax cuts for the wealthiest 2% of americans expire. >> there's no way we can govern this country with those low rates in...
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everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to the book in a moment. based upon the motion -- that notion, why might the fiscal cliff be a good thing? >> we have been stuck for four years in a state of complacency. nobody wants to do anything about the accumulating problems. everybody knows about the problems. i think the civilization is masking deeper problems. if you let markets give you information, they will give the information. other than artificially prop up everything, like having the federal reserve control prices. this is not a long-term sustainable situation. what i think should happen is -- you would rather fail earl
everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to...
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. >> just 28 days away from the fiscal cliff. talks seem to be at a standstill. >> there's no deal. not even a prospect for a deal and they there's not much talking going on either. >> iran claims it shot down an american drone. the head of its navy says the unmanned surveillance plane is in iran's possession. >> does this mean iran is getting more aggressive. >> seems to be ramping up their attention in the area and making claims we think are untrue. >> prince william and katherine are expect ag baby. officials confirmed the news on monday and said kate will be spending the next several days in the hospital. >> this is the first world child. it's not like william or harry. it's been born into a global media world. >>> football is a violent sport. adding guns to the mix doesn't help. >> the nfl has clear policy guidelines and prohibitions where the players can take their guns. you think they take a step further? >> if someone is planning to do something like that and they're determined, there's very little that will stop them. >> this is the pregnancy everyone has been waiting for.
. >> just 28 days away from the fiscal cliff. talks seem to be at a standstill. >> there's no deal. not even a prospect for a deal and they there's not much talking going on either. >> iran claims it shot down an american drone. the head of its navy says the unmanned surveillance plane is in iran's possession. >> does this mean iran is getting more aggressive. >> seems to be ramping up their attention in the area and making claims we think are untrue. >>...
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just 28 days left and fiscal cliff talks are at a standstill over taxes and entitlements. >> they must have forgotten that republicans have continued to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> could the only thing standing in the way of that would be a refusal by republicans to accept rates have to go up on the wealthiest americans and i don't really see them doing that. >> thank you very much. mr. president. >> meanwhile as nato prepares to deploy patriot missile defenses to turkey, hillary clinton warns syria against moving its chemical weapons. >> this is a red line for the united states. i'm not going to telegraph in any specifics what we are would do in the event of credible evidence that the assad regime has resorted to using chemical weapons against their own people, but suffice it to say, we are certainly planning to take action if that eventuality were to occur. >> and while washington buzzes over this video tribute to clinton, some are
just 28 days left and fiscal cliff talks are at a standstill over taxes and entitlements. >> they must have forgotten that republicans have continued to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> could the only thing standing in the way of that would be a refusal by republicans to accept rates have to go up on the wealthiest americans and i don't...
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cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with a new stimulus. this is almost unheard of. what do they expect? they obviously expect they will cave on everything. i think they ought to simply walk away. the president is the president. he is the leader. they are remanning republicans explain all of the cuts they want to mac. we had that movie a year and a half ago where paul ryan presented a budget a serious real budget with real cuts, obama was supposed to give a speech in which he would respond with a counteroffer. he gave a speech we had ryan sitting in the front row. he called the ryan proposal unamerican offered not
cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with a new stimulus. this...
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cliff talk. this is all thanks to obamacare? >> yeah, that's exactly right, megyn. there was a surtax in the health care law, supposedly to pay for medicare, but they raised it -- they raided the money out of medicare before it even arrived to pay for the new obamacare spending. it's 0.9% additional medicare tax on wages of high income earners, and it is 3.8% on all unearned income, so capital gains, dividends, rental income, interest, any other unearned income has this new 3.8% surtax, and that's on top of whatever might happen in these fiscal cliff talks. megyn: so that is happening. if you make $200,000 as an individual or 250 as a family, it's happening as of january 1. >> well, looks that way. my parsing of speaker boehner's offer in the fiscal cliff talks is that this is going to happen no matter what. they talked about holding the line -- megyn: no, wait, wait, wait, let me interrupt because i just don't want to confuse the two, because all the taxes are confusing. i'm saying this surtax,
cliff talk. this is all thanks to obamacare? >> yeah, that's exactly right, megyn. there was a surtax in the health care law, supposedly to pay for medicare, but they raised it -- they raided the money out of medicare before it even arrived to pay for the new obamacare spending. it's 0.9% additional medicare tax on wages of high income earners, and it is 3.8% on all unearned income, so capital gains, dividends, rental income, interest, any other unearned income has this new 3.8% surtax,...
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one month until the fiscal cliff and appears to be little movement, but a lot of talk back and forth and the president used a campaign style appearance to appeal directly to the american people and pushed for immediate action to extend bush era tax cuts for everybody except the more wealthy americans. >> right now congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income, everybody. and that means that 98% of americans and 97% of small businesses wouldn't see their income taxes go up at all. and even the wealthiest americans would get a tax cut on the first $250,000 of their income. >> but republicans led by house speaker john boehner said the president should quit campaigning and take care of business and some suggest that the president is playing a dangerous game of political brinksmanship. >> i think that the democrats and the president view it to their advantage to run the clock out and dangerously close by the end of the year. if there's a break through, in a short manner, takes a while to get proposals scored by the budget office and legi
one month until the fiscal cliff and appears to be little movement, but a lot of talk back and forth and the president used a campaign style appearance to appeal directly to the american people and pushed for immediate action to extend bush era tax cuts for everybody except the more wealthy americans. >> right now congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income, everybody. and that means that 98% of americans and 97% of small businesses...
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of course the parties want to avoid a fiscal cliff. but what conservatives want is to make 180-degree turn in fiscal policy towards lower taxes, lower spending, and greater prosperity. most importantly opportunity for all. >> i love that. i want you it talk that through with peter goodman. peter goodman, appreciate it. nan hey worth. one of our next guests believes the house republicans should dive head first off the fiscal cliff. oh, my god. he's going to have to explain that one to me. don't forget, folks, free market capitalism is the best bet to prosperity. let me just underscore the prosperity part. we need a lot more of it. i'm kudlow. we'll be right back. >>> welcome back to "the kudlow report." the new york mets agreed to a megamillion dollar contract extension for all star third baseman david wright today. he's not alone in this year-end wheeling and dealing. we're going to explain why baseball's feeling a fiscal cliff tax frenzy. that coming up in about 30 minutes. >>> now switching gears, with just 33 days until the country'
of course the parties want to avoid a fiscal cliff. but what conservatives want is to make 180-degree turn in fiscal policy towards lower taxes, lower spending, and greater prosperity. most importantly opportunity for all. >> i love that. i want you it talk that through with peter goodman. peter goodman, appreciate it. nan hey worth. one of our next guests believes the house republicans should dive head first off the fiscal cliff. oh, my god. he's going to have to explain that one to me....
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and obviously the fiscal cliff. we'll talk to two men on opposite sides of this, the executive director of stop gambling. i'm going to start with you, terry rich, you obviously run one of the big lotteries in america. you obviously heard what dave said, they don't like it, a tax on the poor, and really it should just be cancelled. >> you know, as he said that, i would just add one word, it is opti optional revenue, people don't have to play. and as lotteries work across the country under great leadership of the governor and legislature, who wouldn't allow, as you say, preying on the poor, it is important that we continue to talk about the lottery. that it is not an investment. i absolutely agree with that. this is a chance to have some entertainment. and in this tough economic times to dream just a little bit. so anybody who is spending too much, we'll say don't play. we don't want you to play, get help, you know somebody who is doing that. every lottery has a website and an address with how to get help. this is dis
and obviously the fiscal cliff. we'll talk to two men on opposite sides of this, the executive director of stop gambling. i'm going to start with you, terry rich, you obviously run one of the big lotteries in america. you obviously heard what dave said, they don't like it, a tax on the poor, and really it should just be cancelled. >> you know, as he said that, i would just add one word, it is opti optional revenue, people don't have to play. and as lotteries work across the country under...
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he's here with me to talk if he still feels that way about fiscal cliff. good to have you on the program. deloitte ceo. thanks so much for joining us. >> thanks for having me. >> i want to get to the president and your meeting and really zero in on the fiscal cliff. before we do that, i want to get to the situation around hewlett-packard and autonomy. of course, hp taking a massive write down on the acquisition of autonomy. ceo meg whitman throwing deloitte under the bus in some sense because the firm was among those charged with examining the books before the deal. what can you tell us about what you did in terms of overseeing the books at autonomy and what do you say now that she's charging this fraud? >> sure, maria. unfortunately for us, that matter has been turn the over to investigation and the authorities. believe it or not, that's one of the things i'm not on the hot seat about. that's part of the u.k. member firm. >> of course, this is an issue at the form. it's a big deal. >> it's important to us. unfortunately, we can't comment on that. our memb
he's here with me to talk if he still feels that way about fiscal cliff. good to have you on the program. deloitte ceo. thanks so much for joining us. >> thanks for having me. >> i want to get to the president and your meeting and really zero in on the fiscal cliff. before we do that, i want to get to the situation around hewlett-packard and autonomy. of course, hp taking a massive write down on the acquisition of autonomy. ceo meg whitman throwing deloitte under the bus in some...
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last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6rillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the sa comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. th
last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6rillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not...